New York: The head of the International Monetary Fund Christine Lagarde warned that Eurozone is still operating with “not enough capital and too many bad loans on the books, Dispatch News Desk wire news agency.
Speaking at the Economic Club of New York, Lagarde said many banks in the 17-member eurozone were still operating with “not enough capital and too many bad loans on the books.” Consequently, she said lower regional interest rates were not benefiting the wider economy. She also urged European authorities to close some banks, if necessary, as part of a push to step up banking reforms.
